Sometimes it’s difficult for customers to see the big picture. They know that they will enjoy having their new upgrades, but they don’t see much past that. As a general contractor, you know that there is far more benefit to a lot of home improvement updates. Translating this information to something the client will see may seem complicated, but it doesn’t have to be. Here are some tips for breaking down ROI (Return On Investment) to your customers.
Ask What They Need
Start out the conversation with your client by asking them what they need to see to feel satisfied with a project. It’s always a good idea to get on the same page, to begin with. Let them tell you what would make them feel like the job was worth the cost. That should give you a much better idea of what the customer is expecting and how you can approach your discussion about ROI.
Once you have this information, address their needs and concerns. Let your homeowners know how you plan to get them to the goals they’ve set for feeling satisfied with the money they’ve spent.
Break Down the Numbers
Some people do best with the cold, hard facts. In such cases, break down the numbers for them. Offer an itemized list of all the estimated costs to complete the job versus the estimated gains they will receive from having the work done.
Dispel the Myths
Home improvement shows are incredibly popular. Often, when people are considering a home renovation project, they spend time watching these programs and browsing lifestyle magazines. Unfortunately, this often gives homeowners a false sense of which updates offer the best return on investment.
Home improvement shows are all about the style and glamour. This tends to give people a false sense of what’s most valuable as far as home improvement is concerned. Fancy bathroom remodels, for instance, can cost a lot of money. That investment is unlikely to be recovered once the home is sold again.
On the other hand, adding higher quality insulation is incredibly valuable to the homeowner. You rarely see this in the glossy magazines, though, because it’s not eye-catching.
Show Them Charts
If all else fails, bring out the visuals. Show them charts of the general return on investment for a variety of home improvement projects. Let them know your thoughts on the value of the projects they have in mind, based on your experience.
Help With Bringing the Project to Life
Of course, it doesn’t matter how much your customers can see the benefits if they don’t have the funds for the job. Contractor financing options are a big perk for homeowners looking to do home improvements.
HFS Financial matches the right home improvement financing options to the client. We make financing for contractors to offer their customers quick and easy. Loans for contractors to offer their clients can be done completely through the HFS Financial site, with no added paperwork for the contractor. Reach out to discuss the details. You can confidently let your customers know, “You Dream It, We Finance It.”